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Chemical giant Covestro cuts 1,700 jobs, consequences for manufactur…

The 900 employees of Covestro, formerly Bayer, in the port of Antwerp are concerned that the chemical giant will also lay off people in our country. The company is cutting 1,700 jobs worldwide, the job of almost one in ten employees is threatened.

Tommy Huyghebaert

The German chemical group Covestro wants to grow sustainably, focus on efficiency and scrap activities that no longer fit in with that transformation plan. Possibly also activities in Antwerp. “We can’t reassure anyone at the moment,” said ACV representative Patrik Collier. “We were informed of the global plans on Thursday. But the local management could not say what impact there will be in Antwerp. According to them, we have to wait for an analysis that will not be completed until early next year.”

Anthonie De Lausnay of ABVV Covestro is more positive than his colleague. “The company announced that it would monitor the efficiency of its fortresses around the world. I can’t imagine they will find any problems here. We are already on our gums here in terms of occupation. So I don’t think they can cut anywhere in terms of staff here.”

842 million profit

De Lausnay finds it strange that Covestro is just now coming out with the round of layoffs. In the second half of 2021, after a weak corona year, Covestro booked a turnover of 7.3 billion euros and a profit of 842 million euros. “While the champagne flows down the stairs, so to speak, at the management, the staff has to sit and wait anxiously whether or not their jobs have been threatened.” A special works council will follow next week, but whether more information can be provided there is anything but certain.

Covestro’s plastics are used in many products – the soft foam, for example, in mattresses, car seats and sofas, and the hard foam as insulation material in refrigerators and house facades. Other substances – so-called polycarbonates – are used for car headlights and casings for mobile phones or laptops.

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